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Title : Will Seattle Larn The Adjacent Detroit?
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Will Seattle Larn The Adjacent Detroit?

By Randall Holcombe

This article says “Seattle is struggling to notice a path forwards to bargain amongst a crisis that’s exploded inwards recent years.” What is that crisis? An economical boom!

The article says, “unemployment inwards the county is at 3%, the lowest inwards the state... Housing is becoming less affordable, leading to to a greater extent than homelessness. At the same time, Washington’s taxation laws gave cities few options when it comes to raising funds for to a greater extent than housing. ... Those rent increases convey been partly driven upward yesteryear an influx of well-paid tech workers.”

The article focuses heavily on Amazon, noting, “Amazon has almost 45,000 employees inwards the city, where it is it’s largest individual employer. Those employees tend to earn practiced salaries, allowing landlords to bid upward the cost of scarce housing as well as causing rental costs across the expanse to rise.”

So, the article says, “Seattle looked for novel ways to enhance coin to address the problems those same workers were causing inwards the housing market.” The city’s solution was a corporate caput tax, which the article says “was hugely unpopular amid businesses.” The effect was that the urban heart as well as soul backed downwards on the tax. But, the article says, “Unresolved is the number of how cities tin bargain amongst the huge urban impacts of unmitigated tech growth.”

Seattle has to hold off no farther than Detroit for its answer. Once the prosperous abode to the thriving American automobile industry, Detroit (with some assist from the UAW) made itself as well as thus unfriendly to concern that American auto manufacturing has migrated to to a greater extent than business-friendly locations, largely inwards the American South. Unlike Seattle, housing inwards Detroit is really affordable, as well as in that location is an excess of housing, to the extent that the city is paying to demolish abandoned homes. 

I should laissez passer Seattle’s City Commission some credit for figuring this out. They did advise the corporate caput taxation to brand Seattle less business-friendly. They’ve merely been (temporarily?) thwarted yesteryear local opposition.

The political leadership inwards Seattle sees rock-bottom unemployment, rising incomes, a booming housing market, as well as a tech nail every bit a crisis as well as are “struggling to notice a path forwards to deal” amongst it. The political leadership inwards Detroit figured out how to bargain amongst this type of “crisis” decades ago, as well as despite Seattle’s recent failed sweat to travel to a greater extent than similar Detroit, there’s a practiced run a jeopardy that Seattle’s political cast volition eventually succeed.

Randall Holcombe is a Research Fellow at the Independent Institute as well as co-editor of the book Housing America.

The inwards a higher identify originally appeared at the Independent Institute.

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